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These Are Gen Z & Millennials’ Top Financial Goals Now

Money-wise, these generations seem to have one common priority for 2021… 


After a year of turmoil, many young peoples’ finances have suffered. YPulse’s recent financial monitor report dug into the ways that COVID has impacted Gen Z and Millennials’ bank accounts and spending, from employment to budgets. It’s clear many have cut back on spending during the crisis (dining, travel, and experiences are the top categories they’ve pulled back spending on) and employment—though looking up—has not recovered. According to the International Labour Organization, younger workers 15-24-years-old were “disproportionately impacted” by employment losses in the U.S., seeing losses of 8.7% and women in particular experienced unemployment losses of 5% compared to men at 3.9%.

In the wake of these financial setbacks, we wanted to know where their priorities currently lie, and asked young people to tell us their top financial goal for the year. Here are their top responses:

Their Top Financial Goals of 2021

Among 13-39-year-olds

  1. Save money / increase savings
  2. Earn get more money
  3. Financial stability / Live comfortably
  4. Pay off debt / loans
  5. Get a job / Find a new job
  6. Buy a house / apartment
  7. Buy a car
  8. Buy stocks / Invest money
  9. Start / expand my business
  10. Rent a house / apartment

Gen Z and Millennials seem to have one thing on their mind when it comes to money: saving. When we asked their new years’ resolutions for 2021, “earn more money” and “save more money” were their top responses. When we asked what they planned to do with their stimulus checks last week, young people were most likely to tell us they plan to save it. And their top financial goal for 2021? Saving money or increasing their savings. during COVID, so it makes sense that they would need to rebuild those funds, but also want to have the savings to rely on again if things don’t turn up.

We found that saving is the top financial goal for Gen Z, young Millennials, and older Millennials:

Expect both these generations to be prioritizing nest-egg building in the months to come, and if you’re a financial brand (or a marketer) you should understand that this is the way you can best provide assistance right now. Resources on how to save and what financial steps to take to build an emergency fund are likely to be in demand. What they’re saving for is very likely to differ by age though. Gen Z is likely to be saving for school, while Millennials are probably saving for a home, for their own children’s education, and for emergencies.

The financial goals for these groups differ in other ways as well. Gen Z teens are most likely to say their biggest goal for the year is to buy a car (interest in autos hasn’t slowed down among young people). Meanwhile, Millennials in their 20s are the most likely group to be eyeing stocks and investments, and older Millennials are most likely to be interested in starting their own businesses.

YPulse Business users can access the full Finance & Spending report and data here.

Don’t have a YPulse Business account? Find out more here.